${?}_{{?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{{?}_{?}}{?}_{i}s\text{a}\text{t}\text{r}\text{u}\text{e}\text{s}\text{t}\text{a}\text{t}\text{e}\text{m}\text{e}\text{n}\text{t}\text{.}}$

During periods $of$ inflation, FIFO makes the balance sheet less representative $of$ actual inventory values than $if$ LIFO were used

During periods $of$ inflation, LIFO overstates earnings relative $to$ FIFO

After inflation ends, distortion due $to$ LIFO will disappear $as$ inventory $is$ sold

During periods $of$ inflation, LIFO makes the balance sheet less representative $of$ the actual inventory values than $if$ FIFO were used